Glencore’s chief executive Ivan Glasenberg took home £1.1m last year
Embattled Glencore's top dog took home a sizeable £1.1m last year, despite the commodities trader and miner's share price plunging 69 per cent during this period.
The company's chief executive Ivan Glasenberg was paid a total of $1.5m last year (£1.1m) in pay and pensions according to the its annual report released today. Nevertheless, the figure was broadly in line with the his pay packet over the last few years.
Glasenberg waived the right to any salary increase following the company's stock market flotation in 2011, and the renumeration report says it expects no change in his take home in 2016.
"No resolution will be tabled to approve the directors’ remuneration policy at the 2016 annual general meeting as the policy in respect to directors’ remuneration did not change in 2015," it said.
Last week, Glencore revealed adjusted net income plummeted 69 per cent to $1.34bn in the 12 months to 31 December, capping off a year which had seen its share lose around 30 per cent in one day as well as the price of its main product copper plummet.